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MegaFon says to launch London IPO

MOSCOW, Oct 8 (Reuters) - Russia's second-largest mobilephone operator MegaFon , in which Russia's richest manAlisher Usmanov took control in April, said on Monday it plansto launch an initial public offering on the London StockExchange.

The IPO, to be completed in the fourth quarter, will giveinvestors the chance to buy into a Russian telecoms company thatis outpacing its peers in a growing home market, but unlikerivals is shielded from tricky overseas operations and complexcorporate disputes.

MegaFon said it plans to use the proceeds of the offering ofits treasury stock to repay debts.

(Reporting by Megan Davies; Editing by Maria Kiselyova)

((megan.davies@thomsonreuters.com)(+7 916 391 8262))

Keywords: RUSSIA MEGAFON/IPO